BEL Q4 Results: Revenue, profit above expectations; Margin narrows off high base

State-run Nifty 50 constituent Bharat Electronics Ltd. (BEL), reported results for the March quarter on Tuesday, May 19, which were higher than expectations across most parameters.

Revenue for the quarter grew by 11.6% from the same quarter last year to ₹10,177 crore. A CNBC-TV18 poll had pegged the figure at ₹10,012 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation for the quarter increased by 6% to ₹2,962 crore, which also turned out to be higher than the CNBC-TV18 poll estimate of ₹2,789 crore.

BEL's EBITDA margin for the quarter narrowed on expected lines due to a high base. Margins contracted by 150 basis points from last year to 29.1% from 30.6% earlier, although they were higher than the CNBC-TV18 poll expectation of 27.7%.

Net profit for the period stood at ₹2,203 crore, which was higher than the CNBC-TV18 poll expectation of ₹2,138 crore.

Overall order intake outlook for financial year 2027, status for the AMCA Expression of Interest, ramp-up of non-defence and export business, commentary on impact on supply chains due to the West Asia war is something that the street will be keenly monitoring from BEL's management.

Shares of BEL ended 0.6% lower on Tuesday after the results announcement at ₹424.05. The stock is down 7% in the last one month, trimming its year-to-date advance to 6.6%.